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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2650 New Salem Hwy, Unit 2658 Murfreesboro, TN 37128-5265

    • Grocery and convenience stores
    • 61,779 SF
    • 11.01 lot acres
    OFF-MARKET
    Last Sale
    May 13, 2024
    $14,437,500
    Value Estimations
    $14,440,000
    Show details
    Cap Rate Potential
    5%
    Grocery and convenience stores
    Location Intelligence
    Property ID
    US80-1645161
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Publix Super Market at Market at Salem Cove / Bakery / Specialty Food Shop
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Publix Pharmacy at Market at Salem Cove / Pharmacy
    • The Market At Salem Cove / Grocery & Convenience Store / Food Market
    • Goodwill Donation Express Center / Charitable Organization

    Property Details for 2650 New Salem Hwy

    Year built
    2010
    Construction
    FRAME
    Lot size
    11.01 lot acres
    Property size
    61,779 SF
    Property type
    Grocery and convenience stores
    APN
    114-002.12-000
    APU
    11400212000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $14,440,000
      ML approach
      $14,440,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,975,000
      6.5%
      $11,055,000
      7%
      $10,265,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $9,945,000
      Market price range: $6.18M - $15.9M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $11,200,000
      Current use
      COMMERCIAL (GENERAL)
      $18,705,000
      Change: +67% Conversion: Easy
      AUTO REPAIR, GARAGE
      $14,890,000
      Change: +33% Conversion: Difficult
      MEDICAL BUILDING
      $11,505,000
      Change: +3% Conversion: Difficult
      NEIGHBORHOOD: SHOPPING CENTER
      $10,455,000
      Change: -7% Conversion: Moderate
      OFFICE BUILDING
      $9,985,000
      Change: -11% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Murfreesboro
    County
    Rutherford
    State
    Tennessee
    Longitude
    -86.4577
    Latitude
    35.8123
    CBSA code
    34980
    CBSA name
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $105,594
    $816,440
    $2,916,360
    $3,732,800
    -
    $2,041,100
    $7,290,900
    $9,332,000

    Comparable in this City

    • Value Estimation
      $26,500,000
      78,898 SF

      5229 Veterans Pkwy, Unit 5241

      GROCERY, SUPERMARKET • 78,898 SF
      5229 Veterans Pkwy, Murfreesboro, TN 37128-4377
      View Details
    • Value Estimation
      $4,170,000
      4,400 SF

      1785 Hwy 99

      CONVENIENCE STORE • 4,400 SF
      1785 Hwy 99, Murfreesboro, TN 37128-5506
      View Details
    • Value Estimation
      $2,055,000
      16,280 SF

      1725 Saint Andrews Dr, Unit O-A

      CONVENIENCE STORE • 16,280 SF
      1725 Saint Andrews Dr, Murfreesboro, TN 37128-7593
      View Details
    • Value Estimation
      $9,750,000
      92,839 SF

      4406 Veterans Pkwy, Unit 4432

      GROCERY, SUPERMARKET • 92,839 SF
      4406 Veterans Pkwy, Murfreesboro, TN 37128-3977
      View Details
    • Value Estimation
      $610,000
      4,074 SF

      1209 Fortress Blvd

      CONVENIENCE STORE • 4,074 SF
      1209 Fortress Blvd, Murfreesboro, TN 37128-5524
      View Details
    • Value Estimation
      $650,000
      4,888 SF

      5265 Veterans Pkwy

      CONVENIENCE STORE • 4,888 SF
      5265 Veterans Pkwy, Murfreesboro, TN 37128-4377
      View Details

    Similar Nearby for Sale

    • $5,410,000
      14,820 SF

      Retail Property Near Saint Thomas

      NNN leased retail property with strong traffic and parking.
      2708 New Salem Hwy, Murfreesboro, TN 37128
      View Details
    • $5,410,000
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      Walgreens NNN Investment, Murfreesboro, TN

      High-yield, long-term Walgreens investment.
      2708 New Salem Hwy, Murfreesboro, TN 37128
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      Murfreesboro Retail Property For Sale

      Retail property in Murfreesboro with favorable lease terms.
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    • $5,950,000
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      Murfreesboro Retail Center - $5.95M

      13,996 SF Retail Building, 100% Leased
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    • $900,000

      Prime Murfreesboro Commercial Land

      One-acre lot, high visibility, excellent access.
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    • $755,000
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      Murfreesboro Commercial Land - $755K

      Prime 0.86-acre site, I-24 access.
      2523 Rideout Ln, Murfreesboro, TN 37128
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    Similar Nearby for Lease

    • $25 SF/Yr
      5,600 SF

      Retail Space Near Kroger Available

      Inline retail space and outparcel pad available near Kroger.
      565 Veterans Pkwy, Murfreesboro, TN 37128
      View Details
    • Contact for pricing
      1,502 SF

      Retail Space Near Interstate 24

      Retail space with ample parking in a high-traffic area.
      517 Cason Ln, Murfreesboro, TN 37128
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    • Contact for pricing
      1,751 SF

      Retail Center on Old Fort

      18,000 SF retail center with high traffic volume.
      2812 Old Fort Pkwy, Murfreesboro, TN 37128
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    • $25 SF/Yr
      9,100 SF

      Retail Space Near Kroger Available

      Inline retail space and outparcel pad available near Kroger.
      5580 Franklin Rd, Murfreesboro, TN 37128
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    • Contact for pricing
      2,125 SF

      Retail Development in Murfreesboro, TN

      Class A retail development with shop space and outparcels.
      5265 Veterans Pkwy, Murfreesboro, TN 37128
      View Details
    • $5,000 /Mo
      2,400 SF

      Retail Space Near Kroger Available

      Inline retail space and outparcel pad available Summer 2020.
      4420 Veterans Pkwy, Murfreesboro, TN 37128
      View Details

    Property Visit Statistics

    • Visits by month
      61.6k
    • Visitors by month
      27.9k
    • Avg Time on site
      21 min
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    Murfreesboro, TN 37128-5265
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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